We are pleased to announce the sale of our client Mock Tire at South Park to Parrish Tire & Automotive. The acquisition closed July 1, 2021.
Mock Tire at South Park, located in Winston-Salem, North Carolina, and Mock Tire at Village, Inc. (“MT” or the “Company”) is a leading tire dealer and automotive repair station. The two locations are a part of a larger network of 12 other affiliated locations, which leverage volume discounts with vendors; however, it's not a franchise or license arrangement and therefore has no costs or liability.
Parrish Tire & Automotive, a division of Parrish Tire Company, offers tire sales and related services, as well as a full suite of automotive maintenance and repair services to motorists across the Northwest Piedmont and foothills of North Carolina.
Headquartered in Winston-Salem, Parrish Tire Company was founded by Joseph Hewes Parrish as a single-location retail and commercial tire store in downtown Winston-Salem in 1946. Now in it is 75th year, the company remains headquartered in Winston-Salem with approximately 360 valued employees.
From Mr. Parrish’s first store, the company has grown into a network of locations designed to meet the needs of everyday consumers through its Parrish Tire and Automotive division, as well as commercial fleets, owner-operators, farmers, and construction equipment users, through its Commercial Tire and Service division, which also provides Bandag retreading, wheel refurbishment, foam fill, and 24/7 roadside service.
In addition, the company’s wholesale division operates distribution centers in North Carolina, South Carolina, Virginia, and Georgia, providing daily delivery of passenger, truck, farm, industrial and specialty tires to a wide variety of tire dealers and automotive service centers in twelve states.
The company’s e-commerce division gives consumers outside of this footprint direct access to an expansive selection of both major brand and privately branded tires, while the recently launched mobile division provides a convenient delivery and installation option designed to meet the shifting demands of the modern consumer.
Generational Equity Executive Managing Director, M&A-Technology Practice Leader, David Fergusson, and his team, led by Senior M&A Advisor, Paul Fackler, with the support of Managing Director, M&A, Alex Mironov, successfully closed the deal. Senior Managing Director Terry Stidham established the initial relationship with Mock Tire.
If you would like to explore other transactions our associates have supported in this industry, visit our dedicated Automotive M&A Deals page.
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